Custom Index Systems LLC Lowers Stock Position in Mplx Lp (NYSE:MPLX)

Custom Index Systems LLC cut its stake in shares of Mplx Lp (NYSE:MPLX) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,157 shares of the pipeline company’s stock after selling 996 shares during the quarter. Custom Index Systems LLC’s holdings in Mplx were worth $1,252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its stake in Mplx by 56.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,135 shares of the pipeline company’s stock worth $54,000 after purchasing an additional 409 shares during the period. Cedar Wealth Management LLC purchased a new position in shares of Mplx in the third quarter worth $51,000. Farther Finance Advisors LLC boosted its position in shares of Mplx by 393.0% during the third quarter. Farther Finance Advisors LLC now owns 3,451 shares of the pipeline company’s stock worth $153,000 after acquiring an additional 2,751 shares during the last quarter. Archford Capital Strategies LLC purchased a new position in Mplx during the fourth quarter valued at $200,000. Finally, Marcum Wealth LLC purchased a new position in Mplx during the fourth quarter valued at $205,000. 24.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Carl Kristopher Hagedorn sold 4,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $47.24, for a total transaction of $188,960.00. Following the completion of the sale, the vice president now directly owns 14,750 shares of the company’s stock, valued at approximately $696,790. The trade was a 21.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Bank of America began coverage on shares of Mplx in a report on Thursday, October 17th. They set an “underperform” rating and a $43.00 price objective for the company. StockNews.com lowered Mplx from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 27th. Truist Financial lifted their price objective on Mplx from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. UBS Group increased their target price on Mplx from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company boosted their price target on shares of Mplx from $53.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $50.50.

Mplx Stock Down 2.5 %

Shares of MPLX opened at $52.03 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 1.40. The business has a fifty day moving average of $49.34 and a 200 day moving average of $45.67. The company has a market cap of $53.01 billion, a PE ratio of 12.27, a P/E/G ratio of 2.31 and a beta of 1.43. Mplx Lp has a 52-week low of $37.04 and a 52-week high of $53.55.

Mplx (NYSE:MPLX) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.04). Mplx had a return on equity of 32.70% and a net margin of 36.77%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the business posted $0.89 EPS. Mplx’s revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts expect that Mplx Lp will post 4.18 EPS for the current year.

Mplx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.9565 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.83 dividend on an annualized basis and a dividend yield of 7.35%. Mplx’s dividend payout ratio is 90.33%.

Mplx Profile

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water.